Area Homeowners Facing Foreclosure Hurry to Get Help
✉️ Want to forward this article? Click here.
The Washington Post is reporting that Maryland and Virginia homeowners facing foreclosure are rushing to get assistance from a $1 billion federal aid program.
The goal of the Emergency Homeowners’ Loan Program is to help the unemployed pay their mortgages by providing them with zero-interest loans. Under program guidelines, eligible homeowners can qualify for an interest free loan which pays a portion of their monthly mortgage for up to two years or up to $50,000, whichever comes first.
While there is a different program for DC residents, which does not have an immediate deadline, the expiration of programs in Maryland and Virginia is fast approaching or passed. From The Post:
About 4,000 Marylanders struggling to hold on to their homes have applied [to the program]. An additional 10,000 sought help in Virginia, where the deadline to apply for the program passed Thursday and eligibility is being determined by the federal government rather than the state.
Ironically, this news came on the same day that RealtyTrac reported that foreclosures dropped 80 percent year-over-year in Maryland. Last month, the state had 958 properties with foreclosure filings, compared to one in every 2,444 homes in foreclosure in August 2010.
See other articles related to: the washington post
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/area_homeowners_facing_foreclosure_hurry_to_get_help/4164.
Most Popular... This Week • Last 30 Days • Ever
Forest Hills Connection is reporting that the owner of the Days Inn along Connecticut... read »
The 67-room luxury hotel will be located at 3000 M Street NW, the site of the old Lat... read »
On Monday, the listing price for the 30,000 square foot home that was originally buil... read »
The eight-bedroom estate built by Banks Development along Chain Bridge Road will be l... read »
DC's Historic Preservation Review Board looks poised to approve changes for one of th... read »
- A Plan For More Development In Van Ness?
- Jose Andres Group Partners On New Georgetown Hotel
- The Price For Dan Snyder's Former Potomac Home Drops By $5 Million
- DC Home At Site Of Former Cafritz Mansion Set To List For $23.5 Million
- HPO Recommends Approval For Changes To 280-Unit Building At DC's Reservoir District
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro